EHang (NASDAQ:EH) Shares Gap Down – Here’s Why

EHang Holdings Limited (NASDAQ:EH) shares gapped down prior to trading on Tuesday . The stock had previously closed at $21.27, but opened at $18.11. EHang shares last traded at $17.88, with a volume of 1,593,464 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. China Renaissance assumed coverage on EHang in a report on Tuesday, September 24th. They set a “buy” rating for the company. UBS Group began coverage on EHang in a report on Wednesday, August 28th. They set a “buy” rating and a $22.00 target price for the company.

EHang Stock Performance

The company has a current ratio of 2.12, a quick ratio of 1.99 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -28.10 and a beta of 1.01. The company has a 50-day moving average of $13.15 and a 200-day moving average of $15.20.

EHang (NASDAQ:EH) last issued its quarterly earnings data on Thursday, August 22nd. The company reported ($0.14) EPS for the quarter. The company had revenue of $14.04 million for the quarter. EHang had a negative return on equity of 84.09% and a negative net margin of 110.21%. During the same period in the prior year, the firm posted ($0.18) EPS. On average, equities research analysts forecast that EHang Holdings Limited will post -0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Comerica Bank lifted its holdings in shares of EHang by 685.1% during the first quarter. Comerica Bank now owns 1,264 shares of the company’s stock valued at $26,000 after purchasing an additional 1,103 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of EHang during the first quarter valued at $228,000. XTX Topco Ltd purchased a new stake in shares of EHang during the second quarter valued at $383,000. Nomura Holdings Inc. purchased a new stake in shares of EHang during the fourth quarter valued at $396,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of EHang during the first quarter valued at $484,000. Institutional investors own 94.03% of the company’s stock.

About EHang

EHang Holdings Limited operates as an autonomous aerial vehicle (AAV) technology platform company in the People's Republic of China, East Asia, West Asia, Europe, and internationally. It designs, develops, manufactures, sells, and operates AAVs, as well as their supporting systems and infrastructure for various industries and applications, including passenger transportation, logistics, smart city management, and aerial media solutions.